Hi all, I have been reading up on the BRRRR strategy and have a question about. One of the R's is refinance....how many times will banks let you refinance? Is there a limit on how many times you can refinance like there is for conventional mortgages? Say you already have a few houses that have been refinanced, will banks continue to refinance more houses for you?
Thanks in advance for any input you give!
In my experience, I have never had a bank tell me no to a refinance as long as the financial numbers were met. I have very rarely met a bank that wouldn't provide a loan to a consumer as long as the numbers for the property work.
Just my experience.
Hope this helps
@Libby Baugher A refinance is nothing more than getting a new mortgage to pay off an existing one. As long as you haven't exceed the cap on personal mortgages and meet all of the banks underwriting criteria ( front and back DTI, appraisal, ect) they should make a loan.
The issue with BRRRR is that the loan you have on the property usually does not come in the form of traditional financing, so this is the first time a bank will have seen this property.
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